Michigan Laws 500.7717 – Nonliability of member insurer, association, board of directors, or commissioner in performance of powers and duties
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 500.7717
- Association: means the Michigan life and health insurance guaranty association created under section 7706. See Michigan Laws 500.7705
- Commissioner: means the director. See Michigan Laws 500.102
- Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
- Member insurer: means a person authorized to transact a kind of insurance or annuity business in this state for which coverage is provided under section 7704 and includes an insurer whose certificate of authority in this state may have been suspended, revoked, not renewed, or voluntarily withdrawn. See Michigan Laws 500.7705
- State: means a state, the District of Columbia, Puerto Rico, or a United States possession, territory, or protectorate. See Michigan Laws 500.7705
There is no liability on the part of and a cause of action does not arise against a member insurer or an insurer‘s agents or employees, the association or the association’s agents or employees, members of the board of directors, or the commissioner or his or her representatives for any action or omission by them in the performance of powers and duties under this act. This immunity shall extend to the participation in an organization of 1 or more other state associations of similar purposes and to the organization and its agents or employees.